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The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Thursday, 3 September, amid positive global cues. The Gift Nifty trends also indicated a green start for the Indian benchmark index. The Gift Nifty was trading at around 24,083.5, an 83.2-point premium to the Nifty futures’ previous close. The domestic equity indices ended lower in the previous session, with the benchmark Nifty 50 closing below 24,000. The Sensex declined 373.93 points, or 0.49%, to close at 76,570.35, while the Nifty 50 settled 141.35 points, or 0.59%, lower at 23,914.45. Here’s what to expect from Sensex, Nifty 50 and Bank Nifty today: The Sensex closed at 76,570.35, down 373.93 points or 0.49%. The broader outlook for the Sensex remains sideways with a cautious undertone, as the index attempts to build a base after the recent sharp decline, said Sachin Gupta, VP – Technical Research, Choice Equity Broking. “Holding the 76,100–76,300 support zone will be crucial for sustaining the recovery, while a move above 76,800–77,000 could provide further strength. Until the index reclaims higher levels and momentum improves above its RSI-based average, recovery attempts are likely to remain selective and volatile,” Gupta said. The downtrend in the market continued on Wednesday, weighed down by weak global cues, with the Nifty 50 closing 141 points lower after recovering marginally from the day’s low, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. “A small green candle was formed on the daily chart with a minor lower shadow, while the opening downside gap was partially filled. Technically, this indicates some buying interest emerging around the 23,800 support level, which corresponds to the previous opening upside gap of 27 July. However, there is still no confirmation of a bottom reversal,” Shetti said. He added that the overall trend of the Nifty 50 remains weak, with the ongoing bearish pattern of lower tops and bottoms indicating a ‘sell-on-rise’ opportunity on any pullback. “Any bounce from here could face strong overhead resistance around 24,100–24,200. On the downside, a break below 23,800 could drag the Nifty 50 towards the next key support at 23,600 in the near term,” he said. Hitesh Rathi, Technical Analyst – Equity & Derivatives at Angel One, said the Nifty 50 could come under further pressure if it decisively closes below the 23,800–23,700 support band, opening the way for a short-term move towards the 23,500–23,450 zone. On the upside, the 24,000–24,050 range, which had acted as a key support area until recently, is likely to turn into an immediate resistance zone, followed by a stronger hurdle at 24,150–24,200. Rathi said the cautious stance highlighted in previous commentaries has played out well over the past month, and with the index now breaking below key intermediate-term support levels, investors should continue to exercise caution and avoid aggressive trades until a meaningful trend reversal is confirmed. For the Nifty 50, he identified support at 23,800–23,700 and resistance at 24,050–24,200. Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, said Bank Nifty opened with a gap-down and remained range-bound through the session, ending at 57,172, down 0.41%. He noted that the gap-down opening led to a breakdown from the index’s 1,246-point August consolidation range; however, buying interest at lower levels helped Bank Nifty recover and close back within the August trading range. Shah added that the largely flat ADX continues to indicate a lack of meaningful volatility and directional strength. Going ahead, he sees immediate support for Bank Nifty in the 56,800–56,700 zone, which coincides with the 200-day EMA. A sustained move below this level could extend the weakness towards 56,400, followed by 56,000 in the short term, while the immediate resistance is placed at 57,500–57,600. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions. Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content. 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